The Virginia Law Register Volume 4

The Virginia Law Register Volume 4

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ... the Circuit Court of Bedford county, pronounced October 29, 1897, in a suit in chancery wherein appellant was the complainant, and the appellecs and otliers were the defendants. This suit was brought for the purpose of enforcing the collection of debts due by an insolvent corporation. During the progress of the suit it became manifest that the corporation was hopelessly insolvent, and a receiver was appointed to take charge of and collect the assets of the company. Among the assets to be collected were the unpaid subscriptions to stock. The stock had been subscribed to be paid on call of the company. At the time of the institution of the suit the company had made several calls on its stockholders, including appellecs, which calls had been paid. At the May term, 1893, the court made a call on the stockholders for the balance due on their subscriptions, and directed the receiver to collect the same. The stockholders were not then parties to the suit, but an amended and supplemental bill was filed on March 31, 1897, to which all resident stockholders, not nptoriously insolvent, were made parties defendants. This bill, after setting out all prior proceedings in the suit, prayed for a personal decree against each stockholder for the balance due on his subscription, with interest from the date of the call by the court. The bill waived answers under oath. The stockholders, however, severally answered under oath denying that they had ever entered into any contracts in writing for said stock, or had authorized any one else to do so; or had ever signed the subscription books of the company or authorized any one to write their names in said subscription books, and relying on the act of limitations of three years. No other defence was made, nor more

Product details

  • Paperback | 410 pages
  • 189 x 246 x 21mm | 730g
  • United States
  • English
  • black & white illustrations
  • 1236863240
  • 9781236863249